Real estate professionals you need to know

Have you ever heard the saying, “It takes a village to raise a child?” You can apply the same concept to buying and selling a property. It’s a group effort, especially if you’re an investor owning multiple properties. There’s a lot of responsibility when dealing in the real estate market, so it pays to form lasting relationships with people who know what they’re doing. Here are several real estate professionals all homeowners need at least once.

1. Real Estate Agent

The real estate agent is often the first person a buyer or seller sees. This real estate professional’s job is to negotiate the best terms for whomever he or she is working. The real estate agent also helps their clients through the legal requirements of the buying or selling process.

For investors with multiple properties for rent, real estate agents can help you set prices and find qualified renters. In some cases, a real estate agent will also screen potential tenants, field phone calls, and show your properties.

2. Home Appraiser

The home appraiser works for the lender. This real estate expert takes into account several factors including a comparison of the home with similar ones in the area that have recently sold, the cost of the home, and the income potential of the home before presenting the lender with a price for the property. Other factors an appraiser looks at is the size of the home, its condition, and the condition of the surrounding neighborhood.

3. Home Inspector

A home inspector looks at every nook and cranny of a property and gives a detailed report of his or her findings for the buyer. Any offer to purchase should be contingent on the inspector’s report. A home inspector looks at major aspects of a home such as its electrical wiring, plumbing, heating/cooling, as well as the roof, walls, floors, windows, and doors.

4. Insurance Agent

Every mortgage requires the borrower to have homeowners insurance in place. The policy protects the owner from loss in the event of things like natural disaster, accidents, and lawsuits. Not all homeowner’s insurance policies are created equal, so it’s important you have a knowledgeable insurance agent on your side. This person can ensure you have sufficient coverage for both common and not-so-common mishaps. If you’re a landlord, an insurance agent can make sure your policy covers things like problematic tenants as well.

5. Loan Officer

A loan officer works for the lender, but it’s his or her job to help you qualify for a loan. This real estate professional gathers personal information from you such as your income, your employment status, and other qualifying information to determine whether you have the ability to pay back a loan. If you have less-than-perfect credit, the loan officer tells you what you need to do to fix it in order to qualify for a loan in the future. A loan officer also helps you get pre-qualified for a loan, which presents you as a serious buyer in the eyes of sellers and real estate agents.

6. Mortgage Lender

The mortgage lender uses the recommendation of the loan officer in deciding whether to grant you a mortgage loan or not. Based on the loan officer’s opinion that you can, and will, pay the loan back, the mortgage lender provides qualifying buyers with the money they need to purchase property. A mortgage lender can be a bank, a savings and loan institution, a credit union, or some other financial institution that lends money.

Whether you’re buying or selling a single home, or you’re an investor buying and/or selling multiple properties, the real estate professionals above are vital to being successful. Gather a team of these experts that you can count on every single time.